Your June Review – Insight and Analysis

Your June Review
Summer has arrived, and it’s been another exciting month. We’ve been given full authorisation from the UK regulator, the Financial Conduct Authority – another step forward to offering industry-leading, tax-free returns with the Funding Circle ISA, which we plan to launch later this year. You can read the full story in this article.

Also included in this month’s post, personal finance expert Simon Read looks at what the record level of inflation in the UK could mean for you and what you can do about it. Dive in below.

May lending figures
Last month, you and other investors helped businesses to take new opportunities, create new jobs and drive energy into the UK economy — thank you for your continued support!

June review
Remember, your actual return may be higher or lower as your capital is at risk.

Monthly trends
These graphs show the most recent activity on the marketplace.

You’ve helped more than 8,500 small businesses access finance in the last 6 months…

June number of loans

Totalling over £610 million lent

June amount of loans

May 2017 sector breakdown

Amount lent to each sector

Business sectors

May 2017 regional breakdown

Amount lent to each UK region

June business regions

Making the most of your investment

May Industry News

The Times looks at a variety of different apps to help make your money work harder, from keeping track of your spending to monitoring investments. Read about this and more in our round-up of last month’s industry news.

What does rising inflation mean for your money?

With inflation in the UK at a four-year high, personal finance expert Simon Read looks at what this could mean for you and what you can do about it in his latest blog.

Loans defaulted last week
As part of lending to businesses, a small percentage will not be able to fully repay their loan. This is known as bad debt and is a normal part of business lending. We believe diversification, where you lend no more than 1% of your total to each business, is the best way to reduce the impact this has on your return. You can diversify automatically using our Autobid tool.

Each week, we publish a list of the loans being defaulted on the Customer support section of our website under ‘Announcements.’ To see a breakdown of the loans defaulted last week simply click on loans defaulted 1st June 2017.  For further information on why Funding Circle defaults loans you can read our FAQ here.

Collections and recoveries

How it works

You can also read more about how our collections and recoveries process works (part one and part two) on our blog.

Up next in June, we’ll be looking at the impact your lending is having on the UK economy and bringing to life some of the businesses you’ve helped access finance.

As always, if you have any questions or comments our dedicated team are here to help. And if you have any further suggestions we’d love to hear them.

Enjoy lending, the Funding Circle team

*The current estimated return is a weighted estimate of the annual return after fees and bad debts that investors could earn from lending money to businesses seeking loans today. It is calculated by taking the gross interest rate less fees and estimated bad debts that will occur in the future for each of the last 3000 loans accepted on the marketplace. The average return is weighted by loan amount, compounded and before tax. The return is updated daily. See the full calculation here.

This blog is a general summary, and should not replace financial advice tailored to your specific circumstances. Funding Circle is not authorised to, and does not, provide investment, tax, legal or regulatory advice. If you have any questions, please speak to your professional advisor or seek independent specialist advice.

A quiet crash in bank lending? March industry news

A quiet crash in big bank lending?

Bank of England statistics reveal that since the EU referendum, net lending (that’s total lending minus repayments) to British small businesses by 22 of the largest banks dropped from £1 billion in the second quarter of 2016, down to just £220 million in the last three months of the year. Meanwhile, Funding Circle investors lent £167 million on a net basis in Q4 alone! This is a great demonstration of the huge value your lending is having on the UK economy.

Bank said no, but I didn’t lose my sense of hummus

Helen Smith, founder of Glogg and one of Funding Circle’s many great borrowers, shares her company’s success story and experience of using direct lending for growth finance in The Times. When Glastonbury needed a business to produce 200,000 stainless steel pint cups for last year’s festival, Glogg stepped up to the challenge. Turning to Funding Circle for support, Helen was able to secure funding from hundreds of investors and the project was a huge success. Read the full story on our blog.

They came, they saw, they disrupted

It was also great to see Samir Desai, Funding Circle CEO, featured in the The Sunday Times Maserati 100 list, which recognises influential entrepreneurs who are disrupting the business world. In it’s third year, the award took a new approach and focused on celebrating the beneficial impact that these individuals are having on the economy. This type of recognition is only possible because of the continued support we receive from our customers on both sides of the platform so thank you!

The best places to put your cash if you want to beat inflation

With inflation on the rise, an article in This is Money explores a few tricks to help make your spare cash work harder. By considering these options, such as direct lending or investing in stocks and shares, you don’t have to leave your money in a cash Isa that loses value over time. Read more about direct lending and how you could earn stable, attractive returns by lending to small businesses – but remember, when you lend, your capital it at risk.

Read between the lines: New tax year, new tax planning

Speaking of financial planning, personal finance expert and former editor at The Independent Simon Read, gives his advice on how to approach financial decisions in our new blog series ‘Read between the lines’. When planning for the new tax year, Simon encourages investors to be proactive and start the process as early in the year as possible so that there’s plenty of time to take any potential changes into account. To learn about what the recent Spring Budget means for you, check out this video on our blog.

Funding Circle secures $100M investment from CIM

And finally, our US business announced that Community Investment Management, an impact investment firm focused on direct lending, is now lending an additional $100 million to American small businesses. This exciting agreement gives even more businesses the opportunity to access the finance they need, which in turn encourages job creation and economic growth in local communities across the United States.

Six ways to celebrate the Six Nations

As the final day of the Six Nations approaches – dubbed ‘Super Saturday’ for its back-to-back three match extravaganza – we thought we’d take the opportunity to celebrate 6 unique small businesses that represent each of the countries competing in the tournament.

Scotland v Italy

There’s two areas in which the Scots are infallible; their passion, and their whiskey. The aptly named The Good Spirits Co. in Glasgow was set up by three drinks enthusiasts – including a co-founder of the Glasgow Whisky Festival! They offer a huge range of the best spirits from every corner of the earth, as well as holding tastings and offering their very own octave of whisky called Cask 23.

Pizza hails from Naples but The Real Pizza Company have brought authentic pizzas to Crawley. They are cooked at 400 degrees and can be cooked in bulk on match day to feed the crowd! Their immense flavour will be enough to cheer up any Italian supporter!

France v Wales

French Flavour work closely with artisan producers from both France and the UK to bring the finest wines, cheeses, chocolates and much more – straight to your door! Why not treat yourself to one of their cheese and wine subscription boxes and receive a different selection of hand-picked wines chosen to complement top quality cheeses – every month!

A lesser known fact about the country with the lowest population in the tournament, is that Wales is believed to have more castles per square-mile than any other country in the world! So naturally, we picked out Castle Hotel Aberaeron as our Welsh business of choice. The luxury hotel is situated within a Grade II listed building in the Georgian harbour town of Aberaeron – conveniently located minutes from the seaside. If you find yourself on the west coast of Wales – pop in for some food or a drink… you can’t miss it’s fluorescent pink exterior!

Ireland v England

There’s nothing quite so English as a good portion of fish and chips. London-based Poppie’s Fish and Chips have been going at it since the ‘50s, using only the best and most responsibly sourced fish in their dishes – they combine the perfect blend of taste and nostalgia to create the ultimate chip shop experience. Next time you’re in Soho, Spitalfields or Camden – be sure to pay them a visit!

Now we head to Lisnaskea – a small town in County Fermanagh – to bask in the highest quality, locally sourced baked goods in Northern Ireland. Cherrytree Home Bakery have been baking traditional breads, cakes, scones and more since 1970 – using only the best available produce. Owners Isobel and Norman encourage cake enthusiasts to ‘Come to Lisnaskea and follow the smell of good quality, fresh home banking!

We hope you enjoy the matches this weekend. Whatever your interests – there’s a Funding Circle borrower for you!
If you’re interested in lending to small businesses like these, you could earn 7.1% per year by getting started today. You can use our investor information guide to help you get started and there are thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, your actual return may be higher or lower as by lending to businesses your capital is at risk.

Bad debt, defaults and why not to be afraid of them

Bad debt explained

For the second piece in our Explainer series we’re looking at bad debt and loan defaults. We’ll describe what these terms mean from an investor point of view, then look at how you can reduce their impact and still earn a good return at Funding Circle.

What is a loan default?

A loan may be defaulted when a business is late in its repayments, has entered insolvency or has otherwise breached the terms and conditions of the loan. The remaining balance and interest is then demanded from the borrower and loan guarantors.

We’ll take the decision to default a loan if we think it’s necessary to protect the interests of investors. In some circumstances defaults are mandatory.

What is bad debt?

When a loan is defaulted, bad debt is the money potentially lost by investors. This amount may be reduced during the recovery process (more on this below).

Why do they happen?

Businesses fail for a wide variety of reasons.  The most common causes are cashflow (i.e. customers not paying on time, or creditors demanding immediate repayment), increased competition, losing a large contract, illness of the business owner or key workers, and regulatory changes making the business non-viable.

Consequently, a few of the businesses you lend to will be unable to fully repay their loans. We estimate that you should expect a bad debt rate of around 2.0% of your investment annually, although this will vary by the risk bands (A+ to E) you lend to.

How do we account for them?

As defaults are a known risk, we take them into account when setting interest rates. Our credit assessment team perform rigorous checks on all businesses and if we estimate a business is higher risk, they pay a higher interest rate to compensate.

For each risk band, the money lost on loans that default is balanced by the extra interest paid by those that repay. As long as the bad debt rate stays within expectations, investors can still earn good returns. That’s why when we give an estimated return, we give you the figure after bad debt and fees.

Reduce the impact of bad debt with diversification

Diversification is a simple way to help reduce the impact of bad debt on your investment. Diversifying means splitting your investment into lots of small pieces, and lending them out to different businesses.

  • Without diversification – As an example, say you have £2,000 in your Funding Circle account. If you lent that all to one business and they defaulted on their loan, you could lose all of your money in one go.
  • With diversification – Instead, if you were to split your £2,000 across 100 businesses, you could then lend just £20 to each. Then if one or two of them defaulted, you would only lose £20-40. You would still earn interest from the other 98 businesses you’ve lent to, so would still have a great chance of earning a good return overall.

How to diversify

A great way to earn a stable return is to lend to at least 100 businesses, and lend no more than 1% of your total to each one. As of 16 Feb 2017, every investor who has followed these two steps has earned a positive return, and 91% have earned 5% or more (after fees and bad debt) after being diversified for a year. You can diversify automatically by using our Autobid tool. 

Learn more about diversification here.

Collections & Recoveries – helping recover as much as possible for investors

Almost all Funding Circle loans are supported by a personal guarantee from company directors (property loans can differ). If a business is unable to repay the loan, our team can look to recover the outstanding balance from the guarantors.

Our Collections & Recoveries team pursue every single defaulted loan, arranging a new payment plan if possible, or exhausting every legal process available. The team has a range of methods and technologies in place to recover as much as possible for you.

When a loan defaults it will show the total loss on your account. However, our team are often able to recover a significant portion of that loss. As of February 2017, they have successfully recovered 44% of defaulted loans taken between 2010-2014, so it’s worth remembering that the amount “lost” on any recent defaults may improve over time.

The success of the team’s approach led to them winning the 2015 CICM Best Collections Team and 2016 Credit Excellence Award for Collections from CCRI.

You can read more about our Collections & Recoveries process here.

Things to remember

Hopefully now you have a better understanding of bad debt and defaults. Here are a few key points to remember:

Don’t panic!

Bad debt is inevitable, so be prepared for a small percentage of loans to default. It’s baked into our interest rates, and if you diversify you’ve still got a great chance of making a good return.

Diversify

Splitting your investment across 100+ businesses, with no more than 1% lent to each one, reduces the impact of any defaulted loans.

We’ll help you out

Our Collections & Recoveries team will work to recover as much of the debt as possible, but this will take time. They will update you on late and defaulted loans through your Funding Circle account.

Of course if you have any questions our Investor Support team are on hand to help, and can talk you through any activity on your account. You can call them on 0207 401 9111 or email contactus@fundingcircle.com.

As of 6th March 2017 our estimated return after bad debt and fees is 6.9%. If you’d like to invest through Funding Circle you can set up your account here.

It is important to remember that past performance is not a guide to future performance, and your capital is at risk when lending to businesses.

British business booming after Brexit. February industry news.

Brexit Terrified This CEO. Then Business Jumped 50%

Last month, Bloomberg featured Funding Circle in a deep dive analysis of investor and borrower reaction to Britain’s vote to leave the European Union. Over the course of the last six months we’ve seen small businesses adapt and continue to invest. This has been made possible by your lending, with more than £500 million lent in the second half of 2016 alone. Supporting these businesses, who make up 50% of GDP and 60% of private sector employment, is crucial to the success of the UK economy.

Leading marketplace lender Funding Circle tops £2bn mark

Another exciting milestone as investors hit £2 billion lent to UK small businesses through Funding Circle since 2010. That means you have supported more than 22,000 small businesses with the funding they need to grow, helping to create more than 50,000 new jobs! We are seeing huge demand for fast, fair, flexible finance from businesses, which means many more lending opportunities on the platform. Watch this video to find out about the importance of diversification, where you lend small amounts to hundreds of businesses in order to manage risk.

Alternative finance in the UK ticks over £10bn mark

The wider crowdfunding sector also celebrated a major milestone this month having facilitated investment worth £10 billion, which is more than double the cumulative total during the same period in 2015. The rapid increase in consumers and businesses turning to alternatives for funding is testament to the customer experience that platforms have on offer. Hundreds of thousands of investors and borrowers alike have now benefited from a new and innovative way of taking out a loan or earning a return.

MarketInvoice and Funding Circle represent P2P on fintech delivery panel

February also saw the launch of one of the Government’s initiatives to help maintain the UK’s position as a global Financial Technology hub during Brexit negotiations. The FinTech Delivery Panel, which was set up by the Treasury and TechCityUK, is made up of senior figures from some of Britain’s most innovative companies and will help steer policy in such a way that ensures the UK’s thriving FinTech sector continues to be the best in the world.

European fintech deals hit 5-year high in 2016

European FinTech companies defied the global trend of a reduction in investment in 2016, with the number of deals increasing by 11 percent in Europe compared to a 1 percent drop globally. In total, innovative FinTech businesses attracted more than $1.2 billion of investment. 2017 is already looking like a good year for the industry with Funding Circle kicking off the fundraising with our £82 million raise in January – enabling further investment into our technology platform to create an ever better experience for our customers!

How your savings will be affected by the Bank of England’s interest rate freeze

And finally, as the high street banks continue to offer poor returns amidst the Bank of England’s decision to freeze rates at 0.25%, this Daily Mirror articles explores the many other options available as a means of making your spare cash work harder for you. By turning to investments such as peer-to-peer lending, you could earn attractive returns by lending to small businesses – but remember, this is an investment not a savings product so your capital is at risk.

Are you interested in lending to businesses through Funding Circle?

Lend alongside 58,000 investors and support small businesses across the UK by signing up online today. You can use our investor information guide to help you get started and there are thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Looking to expand your business?

More than 20,000 businesses in the UK have accessed finance from Funding Circle, helping with seasonal cash flow, refurbishment, asset finance and much more. You can check if you qualify for a business loan online in just 30 seconds.

 

Industry insights: 90 seconds with an expert

No one knows more about the day to day running of a business than the Funding Circle borrower community, so each month we ask an industry expert to share their expertise.

Industry insights (4) The motorcycle industry

Recently we spoke to Candy from Suffolk Canine Creche, to hear her views on how to build and run an award-winning accommodation facility for fun-loving dogs. This month, we caught up with Andy, founder and owner of Teasdale Motorcycles, to get his advice on how to run a very successful ‘one-stop shop’ for motorcycle enthusiasts. Since 2012, Teasdale have borrowed £167,000 from thousands of investors through Funding Circle, helping them to move to larger premises, hire new staff and boost their online business!

Teasdale motors

Find out more about Andy’s thriving motorcycle retailer in this short video.

Teasdale Motorcycles was set up by Andy Walker in 2002 when he decided to turn his love for motorcycles into a career. Since then, Teasdale Motorcycles has flourished and established itself as one of the North East’s largest motorcycle dealerships. They currently hold the franchise for Aprilia, Moto Guzzi, Norton and KTM Street Motorcycles. Teasdale Motorcycles moved to a larger freehold premises in 2012, and are currently midway through a total redevelopment of their site on Long Street, Thirsk – upsizing by two-thirds of its original size.

Watch our short video to find out more about the motorcycle industry:

Andy’s three insights for managing a motorbike shop are:

  • Be a one-stop shop for bike lovers: offer a range of products and services so your customers can rely on you for whatever their needs require
  • Be flexible: Consumer’s needs are constantly changing, so be prepared to adapt in order to keep up with customer demand
  • Be a strong ambassador for your franchises: When working with big brands, try and operate the partnership in a way that benefits both parties – that way, you benefit from great products and they benefit from your exposure

Are you looking to grow your business?

20,000 UK businesses like Teasdale Motorcycles have accessed finance with Funding Circle, helping with cash flow, refurbishment, hiring staff and much more. Get your instant quote and start growing your business today!

 

Innovation and regulation. December industry news

Watchdog to toughen rules on crowdfunding

The big news last month was the regulator’s interim response to their review of crowdfunding and peer-to-peer lending regulation. The Financial Conduct Authority (FCA) focused on the diversity of peer-to-peer lending models within the sector now compared to a few years ago, and plan to take a more nuanced view of the industry as they develop future regulation. This is welcome news; as the industry grows and evolves, it’s right that it is regulated accordingly and in the best interests of customers.

These are 2016’s top 100 influential leaders in Fintech

Elsewhere, City AM featured Hot Topics’ top 100 Fintech influential leaders list for 2016, with a vast array of impressive individuals from a number of different types of Fintech companies. This includes mobile banking, insurtech, cloud accounting and of course, peer-to-peer lending! Funding Circle’s very own co-founder and CEO Samir Desai features in the list alongside a number of his Fintech founder counterparts.

Peer-to-peer lending: what can it offer SMEs?

The Daily Telegraph took a deep dive into the benefits of peer-to-peer lending for small businesses, featuring a Cornish case study whose farmhouse dreams were made a reality thanks to a peer-to-peer lending platform. Coombeshead Farm struggled to access finance through traditional routes but found that borrowing through a direct lending platform was much easier. A small business expert suggests that “the beauty of alternative finance is the speed and efficiency.” You can read all about a number of Funding Circle success stories on our business case study page here.

Compare P2P lending: The easy way to search for potentially higher returns

Moving on to the benefits for potential investors – the Daily Mail teamed up with Fundshare to create a comparison tool for budding lenders. You can adjust your preferences and see which platforms best suit your interests, with information on minimum and maximum investment, security, loan duration and returns. The article also includes a list of the pros and cons of lending through a platform like Funding Circle, which is useful reading for anyone new to the sector.

FT City Network transcript: The markets and a Trump presidency

And finally, Samir Desai made an appearance in the Financial Times’ City Network transcript giving his thoughts on the impact of Donald Trump’s victory on the financial sector and society more generally. He believes that if financial services firms do benefit from the result – it must not be at the expense of consumers, small businesses and communities alike.

Looking to expand your business?

More than 20,000 businesses in the UK have accessed finance from Funding Circle, helping with seasonal cash flow, refurbishment, asset finance and much more. You can check if you qualify for a business loan online in just 30 seconds.

Your last minute stocking fillers sorted | Weekly Lending Review

Week 50: 12 – 16 December

In the run up to December 25th we’ve been showcasing presents, food, drinks and decorations from Funding Circle borrowers. This week we’ve put together a list of last minute stocking fillers to help make your Christmas extra special.

This will be the last weekly lending review of 2016: we’ll be back in touch in the week commencing 3rd January. We hope you all have a nice break!

New loans available to you

There are currently 10 loan requests on the marketplace, and thousands of loan parts available for you to buy which will help you become diversified.

The total value of new loans listed on the Funding Circle marketplace was £25,184,678, averaging at £76,895 per loan. The largest loan value was £555,240 and the smallest loan value was £5,100.

Business loans available to bid on:

Gross interest rates are before fees and bad debts. Your actual return may be higher or lower as by lending to businesses, your capital is at risk.

Weekly marketplace trends

These graphs show the most recent activity on the marketplace.

The average gross yield graph is reported weekly and shows a rolling two week average of gross yields. This calculation assumes you reinvest your interest each month and therefore includes the compound interest you earn (The calculation is AGY = (1 + (two week rolling weighted average rate/12))^12 – 1). You can view the latest gross interest rates accepted on the marketplace on our statistics page.

Weekly average gross yield (2 weeks rolling)

WLR 50 - yield

Number of loans, value of loans and amount lent are reported weekly.

Number of listed loans per week

 WLR 50 loans listed

Listed loan value per week

 WLR 50 loan value

Total amount lent

 WLR 50 amount lent

Loan parts available to buy from other investors

 WLR 50 loan parts

Loans defaulted last week

Meat wholesaler. Loan 25031. Risk band B

This London business was established in 2012 and a petition has been registered.

Plant hire. Loan 4157. Risk band A+

This Ayrshire business has been running since 2006 and has been placed into liquidation.

Car showroom. Loan 8016. Risk band D

This South Yorkshire business was established in 2002 and is three months in arrears.

Pub. Loan 10516. Risk band D

This Cheshire business has been running since 2015 and is four months in arrears.

Builders. Loan 8610. Risk band D

This Somerset business was established in 2009 and has ceased trading.

Care Home. Loan 2380. Risk band A

This Lancashire business was established in 2005 and is three months in arrears.

Management consultants. Loan 4244. Risk band B

This Lancashire business has been running since 2005 and is four months in arrears.

Pet shop. Loan 7932. Risk band D

This West Midlands business was established in 1995 and has become unresponsive after missing repayments.

Designers. Loan 17753. Risk band E

This Somerset business has been running since 2003 and is three months in arrears.

Skip hire. Loan 12628. Risk band C

This North Wales business is three months in arrears.

Machinery suppliers. Loan 7257. Risk band C

This South Yorkshire business was established in 2010 and are three months in arrears.

Property developers. Loan 25075. Risk band A+

This Lancashire business was established in 2010 and has become unresponsive after missing repayments.

Construction company. Loan 26857. Risk band D

This Monmouthshire business was established in 2013 and has ceased trading.

Property maintenance contractor. Loan 20845. Risk band D

This Monmouthshire business was established in 2013 and has ceased trading.

Restaurant. Loan 5742. Risk band D

This Cheshire business was established in 2010 and has been dissolved.

Benefits of diversification

Lending to businesses can deliver attractive returns, while helping businesses access the finance they need to grow. However, from time-to-time some businesses will be unable to repay their loan, which is why lending a small amount to lots of different businesses is so important. Watch our 90 second diversification video below to find out more.

Our collections and recoveries team are working to recover the outstanding amounts for all of the loans described above and they will provide you with updates in the loan comments section on your summary page. Read how our collections and recoveries process works (part one and part two) on our blog.

Enjoy lending, the Funding Circle team

Highlights from our summer investor evening

This summer, we welcomed 60 investors to our office in London for our fifth investor evening. We always enjoy meeting you, these evenings are a great way for you to find out what we have been working on, as well as providing a forum to give feedback. We hope those who attended had a great evening ‒ we really appreciate you taking the time to visit us.

For those who weren’t able to attend, we have put together a couple of videos from the evening. The first is a quick two minute highlight video showing how the evening went.

 

We also wanted to share an extended highlights video, outlining some of the key themes of the evening:

Key Themes:

Playing a vital role in the economy

James Meekings, Co-founder and UK Managing Director, gave an overview of the positive impact your lending has had on the UK economy since 2010, along with an update on what the EU referendum means for Funding Circle. Read more on how your lending has boosted the U.K Economy by £2.7 billion since 2010.

Delivering a strong and consistent credit performance

Jerome Le Luel, our Global Chief Risk officer, discussed how we use a balanced mix of risk tools when assessing businesses to ensure we create a full picture of a borrower’s financial health.

Jerome also discussed our recent work in stress-testing the Funding Circle loanbook. You can see what could happen to your returns in the event of the UK entering a recession on our blog. Remember, by lending to businesses your capital is at risk.

Supporting Britain’s small homebuilders

Luke Jooste, head of Real Estate & Broker Introduced Finance, talked about how Funding Circle investors are providing a solution to Britain’s housing crisis, helping to bridge the funding gap that small property developers face. We’ll be discussing more on how property lending works at Funding Circle in the coming months.

Working hard to recover your investment

Andrew Jackson, head of Collections and Recoveries, shared how the recovery rate on defaulted loans has increased since bringing our Collections and Recoveries team in-house in 2014. He also spoke about our ‘survival for revival’ strategy – which often yields the best long term results for investors.

You can read more on how our collections and recoveries process works here.

We always look forward to meeting you, and will hold more of these evenings in the future. Look out for invitations in future weekly and monthly newsletters.

Enjoy lending,

The Funding Circle team

Winter warmers: our 6 step guide to keeping cosy

What could be  better than snuggling up with your loved ones in-front of a fire over the holidays? A new pair of snug socks or a mug of hot apple cider to warm you up of course!  Stay cosy this season with our 6 step guide, featuring businesses that have flourished thanks to Funding Circle investors.

Step 1: Cosy cashmere

Cuddle up in a new cashmere jumper this season from the The Cashmere Centre. The company, based in beautiful Buckinghamshire, have a delightful range of cashmere goods. From slippers and socks to a woven house robe, you’re guaranteed to be comfortable in this soft range of clothing. In order to increase stock and improve their online presence, The Cashmere Centre borrowed £40,000 from 507 investors back in 2010.  

screen-shot-2016-11-04-at-15-50-04

Step 2: Beautiful beanies

Need to pop to the shop? Don’t forget your new Fuzzy Earflap Beanie beanie from Countryside Ski & Climb. The company specialise in outdoor equipment, so if you’re looking for new winter jackets or gloves, have a browse on their online shop. To update their website and improve their customer experience, Countryside Ski & Climb accessed £20,000 from 172 investors in 2011.

Step 3: Tasty tea

Now you’re all wrapped up, why not make yourself a cup of loose leaf tea from Nothing But Tea? The family-run tea shop have a wealth of experience in tea and stock over 200 different types! Whether you like a classic Earl Grey, Orange Blossom Oolong, or something a bit different like their Peanut Butter and Jam Fruit Tea, this shop has something to suit all taste buds. To increase stock levels to ensure prompt service, Nothing But Tea borrowed £10,000 in February 2011.

Step 4: Amazing apple Cider

If you’re more of an apple cider enthusiast, then Omi’s Apfelstrudel is for you! Omi’s Apfelstrudel presses delicious juice in Austria’s apple growing centre “Steiermark”. Drink it hot, cold, or with a little dash of spirit – whatever you fancy! To launch a new marketing campaign, Omi’s Apfelstrudel borrowed through the Funding Circle marketplace in the Netherlands in 2015.

screen-shot-2016-11-04-at-15-51-25

Step 5: Mood lighting

Wouldn’t a nice new set of fairy lights warm up your living room? Cable and Cotton encourage you to personalise your beautiful hand-made lights. Orange, yellow and burgundy hues are the perfect way to light up your home during those dark evenings. To fund stock purchase, 428 Funding Circle investors helped Cable and Cotton access £50,000 back in 2012.

Step 6: Bubble bath

Finish your day with an aromatic scented bath with foams, salts and oils from Neals Yard Remedies, based in charming Bath, England. Their popular lavender duo will help you unwind and relax – whether during a long soothing soak in the bath or a refreshing shower, it’s the perfect way to end your day. The popular shop increased their turnover by 30% over the holiday season after borrowing £100,000 from 935 individual investors.

Are you interested in lending to businesses like these?

Lend alongside 53,000 investors and support small businesses across the UK by signing up online today.

You can use our investor information guide to help you get started and there are thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Looking to expand your business?

We’ve helped more than 17,000 businesses access finance for a range of finance needs, including hiring staff, opening new shops and working capital. Get your instant quote today.

Enjoy lending. The Funding Circle team

Britain’s fintech industry is flourishing. September industry news

Newspapers - Copy

£1.5 billion lent to British businesses

Five years, four months and ten days after Funding Circle launched, we celebrated investors lending £1 billion. Just nine months later you’ve lent a further £500 million to bring the grand total to £1.5 billion! You and other investors have helped more than 16,000 businesses across the country, including Daren’s bakery in Kent and Candy’s doggy day care in Suffolk. Your continued support has helped these amazing companies acquire the finance they need to grow and prosper. Read more on our blog.

Peer-to-peer: how can I get 8pc for the least risk?

Following the Bank of England’s decision to lower the base rate, the Telegraph discusses the benefits of online lending as another form of investment, including the potential returns and risks involved. With direct lending, the key to managing risk is having a diversified portfolio, which you can achieve by spreading your money across hundreds of loans. Learn why we believe diversification is so important in this video on our blog and on our statistics page. Remember, when you lend, your capital is at risk.

Fintech start-ups put banks under pressure

Technology is increasingly allowing customers to manage their finances on the go. Fintech companies are providing services to suit our fast-paced lives, such as international payments from a mobile phone or lending to small businesses directly through platforms like Funding Circle. Startups have the advantage of being free of legacy technology systems and high overhead costs. Increasingly we’re seeing banks and fintech companies collaborate to provide an even better service to customers.

How to work out the best way to raise money for your business idea

Not only is fintech shaking up the way people invest their money, it’s also opening up new channels of finance for businesses looking to expand and grow. There are many options to consider when looking for funding, and it may be overwhelming if you’re not sure what route to take. This is Money looks at when the right time is to explore external financing, the different choices available and how to decide which one is best suited for your company’s needs.

Britain’s Tech Giants Can Take On The World

Proof that Britain’s technology industry is flourishing is seen in the rising number of incredible tech businesses across the country. Investment into the sector and the funding options now available to these companies helps them to unleash their true potential. For an example of a technology business that has grown and benefitted thanks to you and other investors, check out this case study video on our blog of Danny Long, founder of Pure Technology.

Ex-Lloyds CEO Joins Board of Funding Circle

And finally, we were pleased to announce the appointment of Eric Daniels to the Funding Circle board as a Non-Executive Director. Former Chief Executive of Lloyds TSB, Daniels has over 40 years experience in the financial and banking sector, and will help us to achieve our aim of revolutionising small business finance across the world. Read more in the Telegraph.

Back to school: 5 ideas to kickoff the new academic year

No dreary back to school feelings here. As the summer months come to a close, get ready for the brand-new school year with our back to school list. From new stationery, to books and a cookery school, your lending has helped these creative UK businesses grow and prosper.

papermash

1. Stationery

Head back to school or the office in style with unique notebooks, pens and planners from Papermash. Choose from an array of beautiful prints, such as the bright and whimsical designs of US designer, Anna Bond. To increase their stock and add brand-new items to their popular online shop, Papermash borrowed £5,000 back in 2014.

2. Books

Stock up on a selection of new books to help kick-start your September at Browsers Bookshop. The bookshop, based in Suffolk, carries a wide range of history, biography and business-insight books – whatever you may need to help you flourish in your studies. Browsers Bookshop were able to fit out a new space in their shop to expand their collection of books after borrowing £12,500 from 248 investors.

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3. Children’s books

Are your little ones starting school this year? Get them excited to start learning with Kids IQ Books’ excellent selection of educational books, including sciences, mathematics and foreign languages. In order to add new stock to their shop, Kids IQ Books borrowed £52,000 through Funding Circle. With all those new books you’ll have, Tidy Books make the perfect book boxes to keep them neat and organised. To help with international expansion and growth, the company borrowed £64,000 across 2 loans.

4. Bags

If you’re child is joining sports teams this year, make sure to grab them a trendy new rucksack from Sporty Kids Wear, who launched their website after borrowing £10,000 in 2014. Or you could look at fashionable book bags from The Stripes Company – their Pointe Tote Bag is not only the perfect size for all day-to-day school supplies, it looks great too! The Stripes Company were able to expand their product range using their Funding Circle loan.

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5. Cookery school

And finally, September doesn’t always have to be all about the kids, it could also be the perfect time to join that cooking class you’ve had your eye on. With over 40 cookery courses to choose from to suit beginners as well as experienced cooks, Ashburton Cookery School will help you take your skills to the next level. To expand their facilities in order keep up with the growing popularity of their courses, Ashburton Cookery School borrowed £175,000 across 2 Funding Circle loans.

Are you interested in lending to businesses like these?

Lend alongside 50,000 investors and support small businesses across the UK by signing up online today.

You can use our investor information guide to help you get started and there are thousands of loans which you can be a part of, making it quick and easy to build a diversified portfolio. Remember, by lending to businesses your capital is at risk.

Enjoy lending. The Funding Circle team

 

Funding Circle announces new Non-Executive Board Member

Today we’re very pleased to announce the appointment of Eric Daniels to the Funding Circle Global Board as a Non-Executive Director.

Daniels has over 40 years’ experience in global banking and financial services. He began his career with Citibank where he spent 25 years and held a number of key managerial positions across a range of businesses and countries. In 2001, he joined Lloyds and was appointed to the Board as Group Executive Director with responsibility for the retail banking division. He became Chief Executive of Lloyds TSB in 2003 before retiring in 2011.

Commenting on today’s news, Samir Desai, CEO and founder of Funding Circle said: “When we first launched Funding Circle our vision was to create the infrastructure – similar to a stock exchange or bond market – where individuals, financial institutions and governments could all lend to creditworthy small businesses. Eric’s deep experience and knowledge of global financial services will be integral to us as we continue to work towards fulfilling this vision”.

Speaking about his appointment, Eric Daniels said: “I’ve been hugely impressed by what the team at Funding Circle has achieved over the last six years. Their commitment to helping small businesses across the world to access the finance they need to grow is bold and exciting. I’m looking forward to working with the team as we continue the next stage of our growth”.

Alongside his role at Funding Circle, Daniels also holds a number of other senior advisory positions. He is Principal and Senior Adviser at Stormharbour, Senior Adviser to CVC Capital Partners, Non-Executive Director at Russell Reynolds Associates, Board Member of the Smithsonian Tropical Research Institute and a Trustee of the Smithsonian UK Charitable Trust.

The announcement marks another important step for Funding Circle, and you can read the full press release here.

The Funding Circle team

Small business, Big impact: an infographic

Independent research published today by the Centre for Economics and Business Research (CEBR) revealed that since Funding Circle launched six years ago, investors including individuals, the government-backed British Business Bank, and a range of financial institutions have helped to create jobs, build homes and support regions that have faced economic hardship in the wake of the last financial crisis.

You can download the full report here and read more about the key findings below.

small_business__big_impact_infographic

Do you want to grow your business? More than 15,000 businesses in the UK have accessed finance through Funding Circle for a range of requirements. You can apply online in less than 10 minutes and check your eligibility in just 30 seconds.

Are you interested in lending to businesses through Funding Circle? Create an account online and start lending the same day. Remember, by lending to businesses your capital is at risk.

The Funding Circle team

FCA launches post-implementation review of peer-to-peer lending

Recently, the Financial Conduct Authority (FCA) launched their post-implementation review of the crowdfunding industry, which is how lending platforms like Funding Circle are regulated. When regulation was first introduced in 2014, the FCA confirmed plans for a post-implementation review in 2016 to ensure regulation for the industry remains relevant, and we’re pleased the review has now been launched. At Funding Circle we have always supported regulation and we’re looking forward to responding over the next few months.

This review will not affect the ongoing process for full authorisation with the FCA. We continue to work closely with them and will confirm to investors as soon as we have received our full authorisation, which will enable us to launch the Funding Circle ISA.

You can find out more information by reading a statement from the FCA. If you have any questions you can also join the conversation over on our forum.

Enjoy lending,

The Funding Circle Team.

Take 10: How to turn your business social

Quick and simple ways to boost your business in just 10 minutes

For the third in our Take 10 series, we’re looking at how you can win business using social media.

Social Media Banner

What do we mean by social media?

Websites where users create and share content or participate in social networking, for example Facebook, Twitter, LinkedIn, Instagram and Google+.

Social media can help you acquire new customers

Social media websites, like Facebook and Twitter, have been around for over a decade and have become a key way for many businesses to promote their products and acquire new customers.

Facebook, for example, adds 500,000 new users every day so you can be fairly confident that a proportion of your target audience will have an account and will be logging on for business or pleasure.

Where are your customers

Before getting started, ask yourself which website your target audience is likely to use. We’d suggest you start small, trying out which social media platform works best for your product and then as you gain confidence (and content!) focus your efforts on one or two. You’ll quickly find yourself in a free soapbox from which to promote your business and it’ll become part of your marketing strategy.

Top tip: Facebook have created a handy short video showing you how to setup a business page in a matter of minutes. You can also find out how to sign up to Twitter here.

What is right for your business

It is also important to consider what is right for your business. Pinterest, for example, might be great for a business with attractive products, like a clothing retailer, but is unlikely to be relevant for an accountancy firm. Don’t forget, however, that the most important part is being where your customers are, so even if a platform works really well for your business, but not your customers then it’s unlikely to be right.

Best practice

To promote the best experience for users on social media, many platforms have rules that customise a ‘News Feed’ based on the likelihood that the user will engage with a post.

This means to guarantee your posts are seen by your target audience you need to make them engaging. To give your post the best chance, we’ve put together a couple of quick tips:

  • Keep your message concise: you only have a moment to catch people’s attention!
  • Attach an image: to ensure your post takes up more area on page (real estate) and is eye-catching
  • Calendar hooks: tie your post into a key date or relevant event that your audience may find interesting
  • Tag others: link to other businesses in your post, if applicable, to increase your exposure

How many times a week should I post to guarantee success?

There isn’t a magic number of times that you should be posting, it’s more important to make sure your posts are engaging for your audience. You want to post enough so your customers don’t forget about you, whilst not posting too much to appear ‘spammy’.

The frequency and type of posts can depend on the website you’re using. In our experience:

  • Facebook is best for posting blogs, running competitions or promoting business and industry news
  • Twitter is great for interacting with your customers in real time by joining relevant conversations and finding trending topics. It can also be a good place to post blog content
  • We’d suggest trying something different on Instagram, for example giving your customers an insight into the company through ‘behind-the-scenes’ photos. Instagram users are often less interested in reading longer blogs and press releases

Top tip: for best results, customise your posts and approach depending on the social media website you’re using.

Social media data can help you understand and target potential customers

One of the biggest benefits for your business is the data social media captures about your customers. Facebook, for example, will allow you to target specific groups of ‘prospective’ users through their audience targeting features. You do have to pay for this service, but even with small budgets this can be hugely valuable. We’ll be talking more about this in more detail in our next Take 10 instalment!

Keep track of your activity in one place

As your social media presence increases, and you find yourself posting across a number of social media websites, you may need some help in managing this. Here’s a couple of tracking websites we think do this best:

  • Hootsuite: schedule and report across three social media websites for free
  • SproutSocial: manage, schedule, report and optimise across a number of social media websites. Prices start at about £44 per month

We hope you’ve found this post useful. Come back for the next instalment of Take 10, where we look at the benefits of paying for adverts on social media.

The Funding Circle team

Digging into the Data: The evolution of the assessment process

With the United Kingdom voting to leave the European Union, we wanted to assure you that despite the current political and economic uncertainty, Funding Circle has a robust credit assessment process to seek to ensure the businesses you lend to are resilient.

In this edition of Digging into the Data we will be looking at how our credit assessment process works in more detail, its development and improvement over time, and announcing the latest changes we are making. We will also discuss how we have stress tested our loanbook to seek to ensure Funding Circle portfolios are able to weather periods of volatility.

How does our assessment process work?

When assessing a business, we use a balanced mix of risk tools to ensure we create a full picture of the borrower’s financial health. These are centred around three key pillars; statistical credit models, expert judgment and policy criteria.

Statistical credit models

We have developed proprietary statistical credit models that rank potential borrowers by order of risk, taking into account thousands of individual criteria both from publicly available data sources (like credit reference agencies) and our own database of historical data (including more than five years of information on UK companies). These statistical credit models are used to assign a risk band to the loan, from A+ to E, and identify businesses we are unable to help.

As Funding Circle has grown over the last five years and more loans have matured, this has provided us with more credit performance data, allowing us to make even more accurate statistical credit models. Since we launched in 2010, more than 14,000 businesses have been funded on the platform. We regularly update our statistical credit models to ensure we leverage this valuable experience. As you can see from the below graph*, our 2016 models benefit from being built on a population size significantly larger than what was previously available to us:

1st graph

More data allows us to determine with more precision which factors influence whether a business is more or less likely to default on a loan. This means we get better at ensuring the right businesses are approved, creating more lending opportunities for investors while increasing confidence in the predicted loan performance. This accumulation of experience over time creates a virtuous circle:

2nd graph

Expert judgement

Alongside our statistical credit models, each business is manually assessed by a member of our credit assessment team.

Our team is made up of specialist small business credit assessors, with extensive experience working at some of the UK’s most well known banks. The team reference multiple sources of data; including financials provided by the borrower and leading credit reference agencies, plus the company directors’ own personal finances.

This creates a comprehensive picture of the business’ financial position – allowing the in-house credit assessment team to raise and clarify any potential questions with the borrower before making any lending decision. If the risk of default is deemed higher than our risk bands allow for, the business will be rejected.

By combining expert judgment with statistical credit models, we can make balanced credit decisions resulting in robust credit performance. More information on the expected and actual default rates for our risk bands can be seen on the statistics page.

Policy criteria

Funding Circle receives thousands of applications from small businesses, and having a simple set of policy criteria has enabled us to filter out businesses that have a low likelihood of being approved.

Policy criteria are designed to give direction to business owners so they know whether they may be eligible for finance. This means our credit assessment team only spend time on the right type of applications. As we have accumulated more data on UK businesses over the past five years, we have found that a certain number of creditworthy businesses might have been overlooked, despite being successful and healthy businesses.

To ensure we can help more creditworthy businesses, we regularly review these policy criteria and make any necessary adjustments, retaining the criteria that have proven to identify borrowers outside of our risk appetite. Our latest set of policy criteria are:

  • A minimum of two years trading history
  • At least 1 year of filed or formally prepared accounts
  • No outstanding County Court Judgments larger than £250

With the 2016 generation of statistical credit models and the latest version of policy criteria, we expect estimated average returns to remain consistent: for loans that were originated in 2016 the estimated average return is 7.2%**, with an expected annualised loss rate of c.2%. We also expect performance by risk band to remain the same, although as always, it is important to highlight that your capital is at risk when lending to small and medium businesses.

Consistent results over time

As a result of our improving statistical credit models, our ability to determine which loans are more likely to default has increased. When Funding Circle started, loans accepted on the platform had a similar default rate to those rejected at the final stage of the assessment process. As we have incorporated a wider variety of tools and data sources this ratio has improved, so that by 2015 loans rejected at the final assessment stage were five times as likely to default as those accepted on to the platform.

The below graph shows our bad debt performance against expectations for loans originated each year since Funding Circle started. The data shows the loss rate for loans after 12 months, net of total recoveries received for those loans, for each cohort as a percentage of our expected loss rate. Please note our 2015 cohort is not included as it has not yet seen a full 12 months of performance:

3rd graph

As losses are shown net of total recoveries, previous cohorts have received an additional 12 months of recoveries than subsequent cohorts. Over the last four years, loss rates on the platform have been consistently within or below expectations, despite making changes to our assessment process and introducing higher risk bands.

For up to date information on marketplace performance, including bad debt performance over time by year of origination, please visit our statistics page.

Are we prepared for a downturn?

Following the referendum result for the United Kingdom to leave the European Union, you may have questions about the potential impact an economic downturn may have on your portfolio. Although we are unable to predict exactly what will happen in the future, we have always made preparations to ensure that we are well equipped to weather periods of economic uncertainty.

In 2014 we invited an industry leading external consultancy, Hymans Robertson, to undertake a full assessment of our loanbook. Simulating economic conditions experienced in both the 1992 and 2008 recessions, we were able to see how returns could vary if we saw another downturn in the economy. The full results can be seen on our blog, and we are currently undergoing a new stress test with the results to be published in due course.

At this stage, we don’t expect any potential fallout from the referendum result to create a credit situation worse than previous recessions, and since the performance of our loanbook has remained stable over the past two years, we think that the 2014 stress test exercise still provides a relevant view of what an economic downturn could mean for returns.

In parallel, we have also deployed contingency plans regarding our portfolio tracking and collections activities, scrutinising any sign of stress and ensuring we are ready to take action quickly if credit performance showed any sign of deterioration.

Conclusion

We are committed to enabling investors to earn consistent attractive returns, by lending directly to British businesses and helping to support economic growth. We will continue to make improvements and adjustments to our assessment process, including in response to changing conditions in the wider economy, so you can have confidence lending to businesses through Funding Circle.

We hope you found this piece useful, and if you have any questions please join the conversation over on our forum, or if you have further questions about how our credit assessment policies work, you can watch a recent interview with our Chief Risk Officer, Jerome Le Luel, here.

Enjoy lending,

The Funding Circle team

* The graph shows the number of loans originated on the platform that were at least 12 months old, as of July for each year.

** You can see how our estimated returns are calculated here.

Update on the Funding Circle ISA

Following our last update in April, we wanted to keep you up to date on our progress towards launching the Funding Circle ISA.

As you may know, in order to launch an Innovative Finance ISA, all peer-to-peer lending platforms are required to be fully authorised by the Financial Conduct Authority (FCA). We have been operating under interim permission since April 2014, and we continue to work closely with the FCA. Although significant progress has been made, it is important that the FCA completes this process in a thorough manner.

Therefore, we do not yet have a date for when the Funding Circle ISA will be available, however as soon as we do, we will let you all know.

Other ways to earn tax-efficient returns

In the meantime, if you are looking for tax-efficient returns you could consider the following:

  • The current tax year ends on 5 April 2017, so there is still plenty of time to take advantage before the subscription deadline. You can also open a Cash or Stocks & Shares ISA elsewhere and transfer it over to the Funding Circle ISA when it becomes available.
  • If you are based in the UK, you can earn tax-free returns by holding shares in the Funding Circle SME Income Fund through either a Stocks & Shares ISA or Self-Invested Personal Pension. Speak to your financial adviser for more information.
  • Thanks to the new Personal Savings Allowance introduced by the Chancellor last year, the first £1,000 of interest earned for basic rate taxpayers and the first £500 of interest for higher rate taxpayers is now free of income tax. The Personal Savings Allowance is not available for additional rate taxpayers. This applies to interest earned through Funding Circle as well as through other traditional savings accounts. More information, including a link to the full guidance from HMRC, can be found in our F.A.Q
  • If you are lending as an individual, a new bad debt relief is also available through peer-to-peer lending platforms for loans that have become irrecoverable. The tax statement available to you has been updated to reflect these changes, and more information can be found in our F.A.Q.

Remember, by lending through Funding Circle or investing in the Funding Circle SME Income Fund your capital is at risk.

We hope this update has been useful, however if you have any further questions please feel free to contact us and we’ll be happy to help

Enjoy lending,

The Funding Circle team

 

*This blog post is provided for information purposes only and is not intended to be construed as an offer, invitation or inducement to engage in investment activity in relation to – or a financial promotion of – Funding Circle SME Income Fund. Funding Circle does not give investment advice or recommendations and this blog post should not be relied upon as such*

Stay with a Funding Circle borrower this bank holiday weekend

Summer is fast approaching and with a bank holiday coming up, it’s a perfect opportunity to take a well deserved long weekend away with friends and family.

We have five fantastic Funding Circle borrowers located across some of the most beautiful locations in the UK, so what better time to support small businesses while having a great weekend away!

1. The Crown at Wells

A stone’s throw from Wells Cathedral, this 15th Century coaching inn is based in the heart of the historic city, and was even featured as part of the smash hit comedy Hot Fcrown-at-wellsuzz.

The rustic bistro and bar is named after Quaker William Penn (who gave his name to Pennsylvania USA), as he famously preached to a crowd from an upper window of the inn in 1685. If you are looking for some heritage and history this bank holiday weekend, you will not be disappointed with The Crown at Wells.

To help refurbish the bar, the business borrowed £50,000 from 674 investors.

2. St. Kilda Hotel

With great views of the Irish Sea, St. Kilda Hotel is nestled in the middle of Llandudno’s beautiful promenade, with easy access to all the town has to offer. This family-run business is sure to give you a warm and friendly welcome.

St. Kilda Hotel used their Funding Circle loan to cover maintenance and refurbishment costs, borrowing £30,620 from 322 investors in December 2015.

3. The Oaklands HotelOak-Bar-1

Located just five minutes from Norwich city centre, The Oaklands Hotel is conveniently situated for anyone wishing to explore this charming city. With a bar and terrace, in addition to great local knowledge on offer, you won’t be without things to do!

To complete the refurbishment of the hotel, The Oaklands Hotel borrowed £462,980 over two loans, from 4,683 investors between 2014 and 2016.

4. The White Hart

If you are looking for a more active weekend away, The White Hart offers an ideal place to rest after a day exploring the stunning Lake District. This historic and authentic bed and breakfast is sure to please real ale aficionados, with a well-stocked bar that has featured in CAMRA’s Good Beer Guide.

The White Hart Inn borrowed £30,000 in February 2016 to help provide cash flow.

5. Nethway Hotel030

Set in the beautiful English Riviera, Nethway Hotel is a short walk from both the beach and Torquay town centre. With plenty to do and a picturesque coastline to explore, a weekend away here could be one of your best chances of sunshine this bank holiday weekend.

In order to fully launch a new product onto the market, The Nethway Hotel borrowed £63,160 from Funding Circle in November 2015.

 

Do you want to grow your business? More than 14,000 businesses in the UK have accessed finance through Funding Circle for a range of requirements. You can apply online in less than 10 minutes and check your eligibility in just 30 seconds.

Are you interested in lending to businesses through Funding Circle? Create an account online and start lending the same day. Remember, by lending to businesses your capital is at risk.

Enjoy lending,

The Funding Circle team